KYIV, Aug 7 – The state-owned saving bank Oschadbank has launched the Apple Pay payment service, chairman of the bank Andriy Pyshny reported.

"Oschadbank the fastest in Europe several months ago integrated Google Pay. It has already launched Apple Pay. The future is in smartphones!" he wrote on his Facebook page.

He said Apple Pay is based on security and confidentiality.

"If you add a credit or debit card to Apple Pay, the card number itself is not stored in either the device or Apple servers. You are assigned a unique account number for the device, while it is encrypted and stored in a secure mode in the microchip "Secure Element" of your device. Each transaction is due to the generation of a unique one-time dynamic security code," he said.